Malcolm CasSelle is the CIO of OpSkins, a company known as the leading seller of virtual assets for gamers and is also the top merchant of bitcoins in the world. OpSkins benefits from a network of users located across the world that make frequent payments across borders and is primed and ready to due to user demand and market size to facilitate a decentralized protocol.
This is important because while OpSkins is as of present the leading centralized marketplace available for the buying and selling of virtual assets there are limitations to this structure. Decentralized marketplaces that trade virtual assets is the logical next progression.
OpSkins is readying for the launch of their Worldwide Asset Exchange which is a blockchain technology that will be used for the trading of virtual assets. WAX will operate as a peer to peer marketplace and will make use of blockchain and smart contracts to allow for direct trades of virtual assets to take place between users.
Proponents of OpSkins’ WAX technology says it will solve the two most relevant problems that plague the virtual assets market: Fragmentation and Fraud.
The virtual assets trading market presently consists of an assortment of marketplaces operating locally and regionally that are for the most part inefficient at navigating the issues pertaining to processing payments, security, and language. These marketplaces generally operate only in a particular country or region.
Blockchain technologies offer the solution to this fragmentation and OpSkins’ WAX token will provide buyers and sellers of virtual assets the means to trade items in an environment free of fraud driven by Blockchain.
The market for virtual assets as presently known is filled with issues regarding security and fraud. Purchasers of virtual assets from centralized marketplaces are many times sold incomplete or even non-existent items and many believe Blockchain to be the perfect remedy for this issue.
WAX will use smart contracts to solve the massive fraud issues that are present in the virtual asset market and will accomplish this feat while making the need for intermediary entities a thing of the past. This will also streamline the trading process for users while eliminating price increases caused by middlemen.
About Malcolm CasSelle
Malcolm CasSelle is the CIO of OpSkins and President of the Worldwide Asset Exchange which functions as the chief marketplace for trading online video game assets.